GS Finance plans to price bearish autocallable contingent coupon index-linked notes

By Emma Trincal

New York, June 16 – GS Finance Corp. plans to price bearish autocallable contingent coupon index-linked notes due July 5, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The notes will pay a contingent quarterly coupon of at least 9.25% per year if the index closes at or below its coupon trigger level, 115% of initial level, on the relevant observation date. The exact coupon rate will be set at pricing.

The notes will be automatically called at par plus the coupon if the index closes at or below its initial level on any quarterly valuation date.

If the index finishes at or below its buffer level, 115% of the initial level, the payout at maturity will be par plus the final coupon.

Otherwise, investors will lose 1% for every 1% gain above the 15% buffer.

Goldman Sachs & Co. LLC is the underwriter.

The notes are expected to price on June 30 and to settle on July 6.

The Cusip number is 40057TC85.

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